Accounts Receivable Management Featured Article

Collection of Louisiana State Debt to be Strengthened by CGI Technologies and Solutions

November 12, 2012

In order to collect millions of dollars from borrowers in Louisiana, CGI (News - Alert) Technologies and Solutions has been chosen by the state’s Commissioner of Administration for the collecting, compiling, and disseminating the debt statistics in the state. Kristy Nichols, Louisiana Commissioner of Administration, has made this announcement.  

CGI Technologies will be responsible to conduct data collection, an analysis of debts owed to the state, and help implement a plan to improve state government debt collections. The main motive of the RFP is to carry on expert analysis of the state's inventory of accounts receivables and debt owed to it.

The Commissioner of Administration will utilize this data to implement a strategy and developing tools which can enhance the state's ability to capture money owed to the state.

Instead of having agency accountants operating by different rules, CGI Technologies will streamline collection efforts for recently delinquent debts and also standardize the policies and procedures by which they pursue recently outstanding accounts receivable. The company will also consolidate  state level efforts and utilize third-party support and evaluate debts to be either tasked to a group of fulltime collection agents in a consolidated state entity, outsourced to third-party debt collection experts or addressed via public-private debt collection partnership.

The company will also start early action for delinquent payments and standardized a timeline for outstanding accounts receivable. These deadlines will send a debt from agency accountants to state collection agents or third-party collection entities so that no debt falls through the cracks. The company will work to ensure maximum payment and establish and/or enhance penalties, fees, and fines, including offsets such as withholding tax refunds or unclaimed property.

Speaking about the data, Commissioner Nichols said in a statement, "This is an important step for taking a data-driven approach toward implementing a comprehensive plan that protects taxpayers and aggressively and persistently pursues money owed to the state."




Edited by Brooke Neuman

Article comments powered by Disqus

Related Accounts Receivable Management Articles

Corcentric Implements SaaS Accounts Payable Cloud-Based Automation Solution for Suburban Propane

Suburban Propane streamslines accounts receivable and payable processes with Corcentric solutions. [ Read More ]
04/23/2014

LiveVox Webinar to Help Mitigate TCPA Class Action Risk

LiveVox, a provider of cloud contact center solutions, revealed its plan to host a webinar on best practices in mitigating TCPA class action threats for contact centers. [ Read More ]
04/22/2014

Before You Reach Out to Customers, Ensure You Know the TCPA Rules

Every contact center today understands the "Telephone Consumer Protection Act," or TCPA. First introduced in 1991, the TCPA has been amended many times to keep up with technology, and has had a federal do-not-call registry added under its umbrella. The purpose of the TCPA was to curb telemarketing abuses and avoid transferring costs to consumers at a time when mobile phones typically included fees for incoming calls. [ Read More ]
04/17/2014

Paymentus Acquires Tele-Works, Inc.

Paymentus, a next-generation provider of unified, cloud-based billing and payment solutions, has acquired Tele-Works, Inc. (TWI). [ Read More ]
04/15/2014
FREE Accounts Receivable Management enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!